4. Deferred Rent

Deferred rent consists of the following at March 31, 2017 and December 31, 2016:

	March 31, 2017		December 31, 2016
Landlord-funded leasehold improvements	$	1,124,790	$	1,124,790
Less accumulated amortization		(534,277)		(502,527)
Total		590,513		622,263
Straight line rent adjustment		130,419		193,403
Total deferred rent	$	720,932	$	815,666

During the three month periods ended March 31, 2017 and 2016, the Company recorded $31,750 and $31,749, respectively, in deferred rent amortization of these landlord funded leasehold improvements.

Straight line rent adjustment represents the difference between cash rent payments and the recognition of rent expense on a straight-line basis over the terms of the lease.